LG Electronics has announced that due to the economic downturn in LCD purchases, they will be cutting their LCD HDTV production by 10 percent. Samsung admits to a slowdown, but will continue their current LCD HDTV production levels. Recently, manufacturers had announced price drops on LCD and Plasma HDTVs due to the slow in the economy.

LG Display Co Ltd (034220.KS: Quote, Profile, Research, Stock Buzz), the world's No. 2 maker of liquid crystal display (LCD) screens, said on Sunday it would cut its panel output by around 10 percent until August because of weakening global demand.

AU, the third-ranked LCD maker, said last week it was scaling back production and its capacity utilization rate would fall to around 90 percent in the current quarter. Chi Mei has also undertaken similar steps.

Kwon Young-soo, LG Display's chief executive officer, said earlier in July that his company might cut output if the market worsened significantly.

But No. 1 LCD manufacturer Samsung on Friday ruled out a production cut, saying it had enough panel orders. Samsung and its LCD production partner Sony are top TV makers themselves, which give the LCD business a stronger client base.